American Tower Corporation $AMT Stock Holdings Raised by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH raised its stake in American Tower Corporation (NYSE:AMT) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,653 shares of the real estate investment trust’s stock after purchasing an additional 135 shares during the period. Trust Co. of Toledo NA OH’s holdings in American Tower were worth $1,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Brighton Jones LLC grew its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of American Tower by 43.2% during the 1st quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 975 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of American Tower by 5.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 143 shares during the last quarter. GAMMA Investing LLC grew its position in shares of American Tower by 9.0% during the 1st quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after buying an additional 648 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of American Tower by 1.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust’s stock valued at $3,793,000 after buying an additional 326 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMT. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Trading Up 0.7%

American Tower stock opened at $186.60 on Friday. The firm has a 50-day moving average price of $198.75 and a two-hundred day moving average price of $210.81. The firm has a market capitalization of $87.38 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 1.12 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.